Derco Aerospace Renews Distribution Agreement with Goodrich Engine Control (UTX)

Derco Aerospace has renewed its exclusive distribution and license agreement with Goodrich Engine Control and Electrical Power Systems (NYSE:GR) to equip C-130 and P-3 aircraft platforms with hydraulic pumps.

Through this agreement, Derco Aerospace continues as Goodrich's exclusive worldwide distributor, and Derco Repair Services, Inc. remains the only authorized licensed overhaul and repair facility. Derco Aerospace and Derco Repair Services are part of Sikorsky Aerospace Services, the aftermarket division of Sikorsky Aircraft Corp., a subsidiary of United Technologies (NYSE:UTX)

United Technologies (NYSE:UTX) has potential upside of 22.7% based on a current price of $73.64 and an average consensus analyst price target of $90.35.

United Technologies is currently below its 50-day moving average (MA) of $74.53 and below its 200-day MA of $80.50. In the last five trading sessions, the 50-day MA has fallen 0.19% while the 200-day MA has slid 0.16%.

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